The settlement covers about 9 million U.S. owners and includes up to $145 million for out-of-pocket losses for consumers who had cars stolen, lawyers for the owners said.
WASHINGTON - Hyundai Motor and Kia Corp agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles, lawyers for the owners and the automakers said on Thursday.
Hyundai and Kia said they will compensate owners "who incurred theft-related vehicle losses or damage in addition to reimbursement for insurance deductibles, increased insurance premiums, and other theft related losses." "The settlement will provide benefits as soon as possible to those who have suffered out-of-pocket losses," said Steve Berman, a lawyer representing owners.
The consumer settlement covers owners of 2011 through 2022 model year Hyundai or Kia vehicles with a traditional "insert-and-turn" steel key ignition system. It includes payments for total loss of vehicles up to $6,125, damage to vehicle and personal property up to $3,375 and insurance-related expenses.
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